Cement News tagged under: Raysut Cement

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Oman: competition reduces Raysut Cement’s profits

14 February 2012, Published under Cement News

Oman's Raysut Cement is losing market share at home as rival UAE players offer competitive cement pricing. The country's largest cement maker reported a 28% fall in annual profit. Net income declined to OMR14.9m (US$38.6m), in line with analyst estimates, from OMR20.7m (US$53.7m) a year earlier, the company said in a filing to the Muscat Securities Market yesterday. Sales costs increased to OMR61.9m from OMR41.7m a year earlier, the company said. Oman is moving ahead with a series of i...